PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Oaktree Fund Advisors LLC

Oaktree Fund Advisors LLC lessened its position in PDD Holdings Inc. (NASDAQ:PDD) by 12.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,631 shares of the company’s stock after selling 2,400 shares during the period. PDD makes up 2.9% of Oaktree Fund Advisors LLC’s portfolio, making the stock its 13th biggest position. Oaktree Fund Advisors LLC’s holdings in PDD were worth $1,710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new position in shares of PDD in the fourth quarter valued at approximately $39,000. Brooklyn Investment Group boosted its stake in PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC increased its position in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after buying an additional 249 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Stock Down 3.1 %

Shares of PDD stock opened at $120.45 on Friday. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The stock has a market capitalization of $165.72 billion, a P/E ratio of 11.76, a PEG ratio of 0.32 and a beta of 0.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $118.16 and a two-hundred day moving average price of $114.33.

Wall Street Analyst Weigh In

PDD has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. lifted their price objective on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Citigroup restated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Nomura reaffirmed a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PDD has an average rating of “Moderate Buy” and an average target price of $169.91.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.